Wirehouses

Recruiter Mindy Diamond says the historic accord forged a bond of trust between advisors and their firms that the industry cannot afford to lose.

An advisor managing $195 million in client assets left Wells Fargo Advisors for Raymond James & Associates.

FINRA moved to banish the broker for failing to cooperate with an investigation into allegations that he borrowed thousands of dollars from a 70-year-old customer without Wells Fargo's prior approval.

Merrill Lynch picked up an advisor from rival Credit Suisse.

The newly recruited Wells Fargo team will operate as Cohonesto Financial.

The firm's Americas wealth management unit is smaller, but better positioned to compete for wealthy clients after six years under President Bob McCann, industry insiders say.

Brown Wealth Management Group, a former Wells Fargo-affiliated independent advisory firm, will focus on high-net-worth clients at LPL.

Two of the new advisors at the wirehouse came from rivals Merrill Lynch and Morgan Stanley.

The wirehouse executive speaks about the firm's approach to automation and why a larger advisor force is necessary to meet increasingly complex client needs.

Brian Hull, head of the firm's Client Advisory Group, tells On Wall Street that he's trying to make it easier for advisors to do business at the wirehouse.

The recruits generated $1.7 million in annual production while at the wirehouse.

On Wall Street's annual Top 40 Under 40 rankings recognize the hard work of an elite group of young professionals employed by the wirehouses and largest regional broker-dealers. The editors of On Wall Street are now accepting nominations for the overall Top 40 Under 40 ranking, and Top 40 Under 40 Advisors at Regional Broker-Dealers. The results will be published in January.

There's no place for complacency these days, and the biggest wealth management players anticipate changes by regularly adjusting their strategies.

"We have competitive advantages that none of these firms can duplicate," says Greg Fleming, president of Morgan Stanley Wealth Management.

The advisor duo generated $2 million in annual production while at Wells Fargo.

Advisors may want to help clients research charitable giving, which overall could top $8 trillion as more baby boomers retire, according to a new study from Merrill Lynch and Age Wave. Advisors can help clients with their research.

Mary Mack says that Wells Fargo Advisors is still thinking through which route to take toward implementing an automated advice offering.

The wirehouse said it recruited four advisors from rivals Merrill Lynch and Wells Fargo.

The wirehouse is sending executives to Credit Suisse offices to deliver the firm's pitch, and will fly advisors out to its headquarters in St. Louis next week.

The new recruits have gone over to the independent side of Wells Fargo, opening practices s in two states.